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China – Macau Legend sees gaming grow by 6.1 per cent

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Macau Legend Development saw its revenue increase by 2.5 per cent year on year to HK$1,471.5m in 2016 with gaming revenue increasing by 6.1 per cent to HK$952.4m. Savan Legend contributed reported revenue of HK$98.2m during the first four months under the ownership of the Group. Gaming revenue of mass gaming tables at Pharaoh’s Palace… Read more »

China – G2E Asia to diversify with non-gaming via its Integrated Resort Experience

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Global Gaming Expo Asia, to be held on May 16 to 18 at the Venetian Macao, will feature an Integrated Resort Experience (IRE) at the core of its 2017 offerings, in direct response to the Macao government’s call to attract a market beyond pure gaming enthusiasts. Along with developing non-gaming attractions, Macao is energetically looking… Read more »

North Korea – North Korea wants investors for casino cruise ship

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North Korea is looking for investors to fund a casino cruise liner looking to boost maritime tourism in the Mount Kumgang tourist region, a special development zone and port. Despite gambling being banned in North Korea, the government is looking for up to $20m to operate a casino-cruise ship sailing to Southeast Asia and Vladivostok,… Read more »

Nepal – Silver Heritage to spend extra $14.8m on Tiger Palace

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Silver Heritage Group has said it will need to spend an extra US$14.8m to complete the construction of Tiger Palace Resort Bhairahawa in Nepal. This will take the final cost of the project to US$54.5m up from $39.8m. The company said: “Construction of Tiger Palace Resort Bhairahawa has made good progress. Infrastructure is 90 per… Read more »

South Korea – Kangwon Land to feel affects of political uncertainty

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Morgan Stanley has downgraded its outlook on South Korea’s Kangwon Land casino following political uncertainty that resulted in President Park Geun-Hye being arrested. The analyst said that Kangwon Land’s revenues have fallen to ‘2014 levels.’ Morgan Stanley analyst Jay Lee said: “We are now at levels seen in 2014, with annual sales/net profit 17 per… Read more »

Philippines – PAGCOR limits casino development in Manila but opens door to Cebu

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PAGCOR (The Philippine Amusement and Gaming Corporation) has put a five year ban on any new Integrated Resort casinos in Manila Bay’s Entertainment City. It has though given its blessing to the development of a US$500m casino resort in Lapu-Lapu City on Mactan Island. The five-year moratorium on new casinos in Metro Manila has come… Read more »

Vietnam – Approval given for $2bn casino resort in Van Don Special Economic Zone

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FLC Faros Van Don, a specialist in developing beach resorts in Vietnam, has been granted approval by the government of Quang Ninh to spend around US$2bn on a casino resort in the Van Don Special Economic Zone in the Northern Province of Vietnam. The project will include a five-star hotel, an international conference centre, a… Read more »

Cambodia – GGR up four per cent at NagaWorld

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NagaWorld, located in the Cambodian capital city of Phnom Penh, recorded GGR growth of four per cent in 2016 compared to a three per cent decline for Macau. Net profit increased by seven per cent to US$184.2m. NagaWorld had 241 gaming tables and 1,648 EGM in place. NagaCorp Chairman Timothy McNally said; “We are pleased… Read more »

South Korea – Sega Sammy completes land sell-back in Busan

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Paradise City

Tokyo-based pachinko operator Sega Sammy Holdings has now completed its u-turn out of a previously announced project in Busan, South Korea, to concentrate its efforts on the development of Paradise City in Incheon. Sega Sammy said it has reached an agreement with the Busan authorities to transfer land bought in 2013 for the project back… Read more »

Asia – MGM hits livemgm.com with lawsuit

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MGM Resorts has hit a cybersquatter using the livemgm.com brand to operate an online gambling site in Asia with a lawsuit. Filed at the US District Court for the District of Nevada on March 9, MGM accused the site of infringing its trademarks. The filing accuses the operator of ‘impersonating MGM and trading off of… Read more »